Newage Inc (NASDAQ:NBEV) Reports A Growth of 97% In The Revenues In Q1 2021 To $125.5 Million

Newage Inc (NASDAQ:NBEV) almost doubled its revenues YoY to $125.5 million in Q1 2021. It is on the backdrop of the takeover of ARIIX and growth in Latin America and the US. Its operations in France and Italy reported triple-digit growth organically. 

Improves profits by 111%

Newage improved profit by 111% to $87.4 million in Q1 2021. The company narrowed its loss to $3.5 million.

Newage’s CEO, Brent Willis, said the company improved its bottom line and topline growth in Q1 2021 because it focused on organic growth in its social/ direct selling division and converging ARIIX. 

The D2C (direct to consumer route) to market is led by several brand partners using its social selling technology worldwide.

Its D2C/ social selling business reported an increase of 128% YoY in Q1 2021, mainly because of record growth in the US, Mexico, and Western Europe. 

Brent further said the company is financially well-positioned to pursue consolidation in the industry and offer incentives to the investors. 

Inks LOI to acquire Aliven

Newage signed LOI to takeover Japan based Aliven to report positive EBITDA in its core market. The company expects to benefit from its D2C/ social selling model because of the global shift in consumer purchasing preferences in the CPG (consumer packaged goods) industry. 

Newage expects to continue the same momentum in 2021 and achieve further cost savings through converging ARIIX. The collaboration and acquisition opportunities will drive the growth and benefit shareholders in the future.

Newage maintains a cash balance of $102 million in Q1 2021. Its debt is $33 million. 

Willis said the Q1 2021 results exceeded the estimates because of cost synergies and improved revenues besides uniting ARIIX. The company expects to report solid growth in Q2 2021 by carrying on the same momentum.

Newage will continue building additional platforms and launch programs for its global sales force. It plans to capitalize on the differentiated wellness and health brands to promote growth in the future. 

Unveils Nutrifii Kids Chewable Multivitamin

Newage introduced Nutrifii Kids Chewable Multivitamin on May 3, 2021, to develop immune systems in adolescents and children. The product is free from flavors, artificial colors, sugar, and sweeteners. 

The market for dietary supplements worldwide is $140.3 billion in 2020 and expects to grow at a CAGR of 8.6% between 2021 and 2028.